Yearly taxes-$1344.82Monthly Insurance-$85.00 Replacement cost value 2484 sq x $65 a footGrass-$30 a monthWater/Utilities/Garbage-Roughly $150 a monthProperty is under professional management charging $500 for tenant placement first month and 10% per month to collect rent, manage, place tenants, do repairs and bookkeeping etc.

Yearly taxes-$1344.82Monthly Insurance-$85.00 Replacement cost value 2484 sq x $65 a footGrass-$30 a monthWater/Utilities/Garbage-Roughly $150 a monthProperty is under professional management charging $500 for tenant placement first month and 10% per month to collect rent, manage, place tenants, do repairs and bookkeeping etc.

All assets cash flow; not all throw off positive cash flow.These are consolidated into a single excel spreadsheet, maintained and shared with bookkeeper in Dropbox.I monitor my marketing funnels using SmartSheet.

I am in no way a quickbooks expert and have now handed it all to my bookkeeper. 

Then in terms of the duties, make it explicit in the partnership agreement who does what, and specify who does anything that needs to get done that wasn't thought about and documented.When it comes time to cash out, the amounts each of you have in your respective capital accounts is how much you get back (if the bookkeeping was done correctly).

This is a bookkeeping question.Every month we make a mortgage payment which includes: Principal, Interest, and Tax & Insurance.I split the payment in Quickbooks Online, so every month our mortgage goes down, plus we have an interest expense on our books.As for the Tax and Insurance, the money goes into escrow with our bank.Initially I had created a current asset accounts in order to represent the escrow.But that means that our income statement will not reflect these expenses until those are paid.I am leaning towards expensing them every month, and then readjusting them in case the number is different.

The types of people you will need are the ones you listed above but also roofer, window man, granite supplier, attorneys, accountant, bookkeeper, real estate agents, insurance agents and many more.

Any decent bookkeeper can set up the accounts.

Also, do those programs handle bookkeeping automatically? 

Im not that picky when it comes to local or not, my books aren't in order, I have online workers to do some bookkeeping, I wanted a fresh start, the previous reports are not really contractor statement standards so that is why I am looking for someone to help me understand the difference.